This module allows you to analyze existing cross correlation between HitBTC ByteCoin USD and Poloniex Augur USD. You can compare the effects of market volatilities on HitBTC ByteCoin and Poloniex Augur and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in HitBTC ByteCoin with a short position of Poloniex Augur. See also your portfolio center. Please also check ongoing floating volatility patterns of HitBTC ByteCoin and Poloniex Augur.

HitBTC

ByteCoin on HitBTC in USD

0.002674

0.000076

2.93%

Market Cap: 14.2 K

Poloniex

Augur on Poloniex in USD

33.03

0.80

2.48%

Market Cap: 2.1 M

Performance (%)

Timeline

Pair Volatility

Assuming 30 trading days horizon, HitBTC ByteCoin USD is expected to under-perform the Poloniex Augur. But the crypto apears to be less risky and, when comparing its historical volatility, HitBTC ByteCoin USD is 1.17 times less risky than Poloniex Augur. The crypto trades about -0.4 of its potential returns per unit of risk. The Poloniex Augur USD is currently generating about -0.19 of returns per unit of risk over similar time horizon. If you would invest 5,312 in Poloniex Augur USD on February 17, 2018 and sell it today you would lose (2,009) from holding Poloniex Augur USD or give up 37.82% of portfolio value over 30 days.

Correlation Coefficient

Pair Corralation between HitBTC ByteCoin and Poloniex Augur

0.94

Parameters

Diversification

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding HitBTC ByteCoin USD and Poloniex Augur USD in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Poloniex Augur USD and HitBTC ByteCoin is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on HitBTC ByteCoin USD are associated (or correlated) with Poloniex Augur. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Poloniex Augur USD has no effect on the direction of HitBTC ByteCoin i.e. HitBTC ByteCoin and Poloniex Augur go up and down completely randomly.